Binance head of product quits as executive exodus continues

Cryptocurrency speech Binance continues to suffer immoderate of its cardinal executives amid expanding scrutiny of the level from regulators astir the world.

Binance’s caput of merchandise Mayur Kamat has confirmed helium is leaving the crypto speech aft serving the steadfast for astir 2 years.

“It is clip for maine to measurement down and modulation merchandise enactment to Binance's adjacent gen leaders. I person worked intimately with merchandise leads to guarantee a seamless transition,” Kamat told Cointelegraph connected Sept. 4.

Kamat besides said that it is simply a bully clip for him personally to instrumentality immoderate clip disconnected aft 20 years of “non-stop merchandise work.” He added:

“It has been an acquisition of a beingness moving astatine Binance and seeing our idiosyncratic basal grow. Thanks to [Changpeng Zhao] CZ and the full enactment squad for this astonishing opportunity. I volition beryllium cheering Binance from the sidelines."

Formerly a merchandise manager astatine companies similar Google and Agoda, Kamat joined Binance arsenic caput of merchandise successful January 2022. According to his LinkedIn profile, the exec was heading planetary merchandise and plan teams astatine Binance, helping grow Binance from 80 cardinal to much than 150 cardinal users successful 18 months.

The erstwhile Binance merchandise pb is known arsenic an aboriginal adopter of Bitcoin (BTC). He reportedly bought his archetypal 2 bitcoins backmost successful 2011, conscionable 2 years aft the cryptocurrency was launched. Kamat said that it wasn’t for concern purposes though, but alternatively to acquisition a VPN connection.

Related: Indian crypto exchanges CoinSwitch, CoinDCX chopped unit amid marketplace slump

The latest resignation astatine Binance comes a fewer weeks aft the speech was deed by a sizable exodus of cardinal executives, including Binance’s main strategy serviceman Patrick Hillmann. While the exec cited idiosyncratic reasons for his departure, galore cryptocurrency observers suspected that the departure had thing to bash with Binance’s probe by the United States’ Department of Justice.

Among different departures, wide counsel Han Ng and elder vice president for compliance Steven Christie were besides reported to person near Binance successful aboriginal July.

Additional reporting by Cointelegraph writer Prashant Jha.

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